Canada's last finance minister implemented an accounting scheme that benefited corporate interests by borrowing on their behalf, which was later forgiven as corporate welfare.

The government's strategy included buying its own mortgage bonds, mimicking quantitative easing, which was warned against by CMHC for blurring lines between normal and crisis operations.

This fiscal policy led to an artificial reduction in reported government spending, contributed to inflation, and impacted the Canadian dollar's value, as seen in the surge of the USDCAD exchange rate.